Stanley Druckenmiller, the billionaire hedge-fund manager who returned an average of 30 percent a year from 1986 through 2010, said the long rally by commodities is over as China switches to consumption-led growth rather than investing in infrastructure.
“We think a decade of commodity demand is over,” he said today at the Ira Sohn Investment Conference in New York. “It’s a poisonous cocktail when you look at commodities going forward.” Druckenmiller, who said in August 2010 that he was returning cash to his clients and would focus on his own investments, is betting against the Australian dollar, which he said will “come down and come down hard.”..............................................Full Article: Source